Swedish Savings Bank Sparbanken Västra Mälardalen Assigned 'BBB+' Rating; Outlook Stable
On 9 January 2019, Nordic Credit Rating assigned its 'BBB+' long-term and 'N-1+' short-term issuer credit ratings to Sparbanken Västra Mälardalen, a Swedish regional savings bank. The outlook is stable. In addition, the bank's senior unsecured debt was rated 'BBB+'.Rating rationaleOur 'BBB+' long-term issuer rating on Sweden-based Sparbanken Västra Mälardalen (SBVM) reflects the bank's very strong capitalisation and regional focus. As a savings bank, SBVM's operations are focused on a specific geographical region and it is operated without an owner or a focus on profit maximisation.